South Strafford, Vermont Property Taxes
The median property tax rate in South Strafford, VT is 2.44%, considerably higher than both the national median of 0.99% and the Vermont state median of 2.11%. With the median home value in South Strafford at $148,450, the typical annual property tax bill reaches $3,624, exceeding the national median of $2,690. Property taxes in South Strafford are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding South Strafford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of South Strafford or another part of Windsor County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Strafford, Vermont Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$3,622
Ownwell’s South Strafford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in South Strafford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Strafford to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Windsor County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across South Strafford, Vermont
Property taxes in South Strafford, Vermont, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Strafford is 2.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Strafford set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Strafford estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares South Strafford's effective property tax rate to other counties in Vermont and the national median. For comparison, the 05070 zip code has both the highest and the lowest median property tax rate of 2.44%. Understanding how these cities compare with South Strafford provides valuable insights into the varying tax landscape across Windsor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Strafford Tax Rate
2.44%
Average Windsor County Tax Rate
2.21%
Average Vermont Tax Rate
2.11%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | 2.44% | 2.44% | 2.44% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across South Strafford, Vermont
In South Strafford, Vermont, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Windsor County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In South Strafford, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in South Strafford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 05070, with a median tax bill of $3,624.
Property Tax Assessment Values Across South Strafford, Vermont
Source: Ownwell
$52,800
$511,925
$971,050
Average South Strafford Assessed Value
$148,450
Average Windsor County Assessed Value
$205,000
Average Vermont Assessed Value
$199,900
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $69,620 | $97,700 | $148,450 | $185,825 | $189,830 |
Source: Ownwell
Property Tax Bills Across South Strafford, Vermont
In South Strafford, Windsor County, VT, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners, several factors influence the final tax bill, including the property's location, size, and condition. The median home price in South Strafford is $148,450, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $2,385, while the 75th percentile tax bill reaches $4,536, and the 90th percentile is $4,634. This variation in tax bills means that homeowners with higher-valued properties or those located in more desirable areas may face higher tax obligations. Compared to the national median property tax rate of 0.99%, South Strafford's property tax rate is relatively high, impacting homeowners' annual financial planning.
Average South Strafford Tax Bill
$3,624
Average Windsor County Tax Bill
$4,455
Average Vermont Tax Bill
$3,843
Average United States Tax Bill
$2,690
Property Tax Bills Across South Strafford, Vermont
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 05070 | $1,699 | $2,385 | $3,624 | $4,536 | $4,634 |
Source: Ownwell